From the desk of Hjörtur J. Guðmundsson on Wed, 2011-04-13 13:41 On Saturday, the people of Iceland for a second time refused via referendum to pay for the debts of the failed private bank Landsbanki Íslands and its online branch, Icesave, which operated in Britain and the Netherlands. The result of the referendum was decisive with a turnout of 75 percent. Almost 60 percent voted 'No' to an agreement that would have seen Icelandic taxpayers shouldering the responsibility of these debts with interests, estimated at €11,875 for each of Iceland's 320,000 inhabitants. However, no one really knows what the amount would have been in the end. This was simply an open check.Why did Iceland say ‘no’?
Thursday, 14 April 2011
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